The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-06-27

bhhEBI n AAh&OADSs
In the July number OF HdrperS
Magazine readers who desire to keep
pace with the agitation of social con-
diiions will find the third chapter OF
the fecond series Of "Social Studies"
by Richard T. Ely. This chapter is
entitled "The Future Of Corporations"
1t la a chapter worthy of study,
as are all the chapters of the SERIES
Men who invest money are generally
very inCredulous'as to the possibility
Of any changes likely to affect their
Interests, but while they are literally
sleeping on their rights even the in
depreciation OF existing laws are un-
dergoing changes that threaten their
supposed securely vested interests.
They are the ones most vitality
interested In these social studies
or they ought to be, for it is in just
such studies, forced by the clsmor Of
the poor and ever growing poorer
classes, that great reforms and greater
revolutions are formed. There ia no
species OF property in existence today
in America that n not held by the
will of the people. They make and
unmske. BY their fiat they swept
81, 40O,0OO.00O in slaves out Of
existence, and by their fiat.
based upon the plea of the
public good, they can sweep any
other special accumulation OF property
cut Of existence. This to many men
may appear to be very candy founda-
ton for their wealth; 1t Is the best
eur system OF government can afford.
1t is a strong foundation until public
opinion changes. Is there tendency
toward such changer There IL, and 1t
is just now specially directed sgainst
those forms Of monopoly for which
there Is no cure in law. These are the
railways, telegraph companies, street
car companies, gsslight companies and
water companies. II is found impos-
aibls anywhere to FIX a healthy
composition against any Of these.
Suoh attempts generally end in
absorption or In q division of
territory, which has the same ef-
feet. For a city or State, therefore,
to charter opp Osition to any of them is
on y TO encourage loss to the exist
ing company that must ultimately be
made up by the people. To escape
these monopolies it II proposed that
the Federal Government shall take
posse ssion, and administer the tele-
graph and railroads, and that NUM-
Cipal governments shall take possess
sion Of gas and water, or electric light
companies, and own the street rail
road ), thu operation Of which may be
let out to the highest bidder at pub
lie cutlery. 1t is further suggested
that In future all charters for perform
ing the functions Of these monopolies
shall be limited TO brief period
with the reveraion OF the en-
tirs property to the municipal, State
or Federal Government, either with or
without compensation, at an APP
praised valuation for actual out
lay. "But these principles" Mr..
Ely says, shave been applied
especially in France and Germany,
the latter In England, Before 1860 all
French railways, with oil that belongs
TO them, like rolling stock and sta
tionO, will become the property Of
the French nation, and that without
compensation. The charters were
granted and accepted on that condi-
tom The street car lines Of Berlin
pay portion Of their revenue to the
city, keep the streets through which
they run well paved from curb to
curb, and In 1911 they become the
!. property Of the city without oompen.
Q sahon. Berlin also deirays 10 pei
d centum Of Its expenses from the
8 profits Of its gas works, although gsI
g is sold for less than 81 per thousand
and coal is transported great dis
lance aud is costly. In England al
act OF Parliament prevents municipal
p tiles from granting charters to stree
It. car companies or electric light comps
le MES, for more than 81 years, and the!
C, must always be granted with reserve
I'd right OF purchase at any time beior
ths expiration OF the charter, or 9
ID. the expiration with compensation io
'se lands, buildings and plant, but non
m. for good will, expectation OF futul
IN profits or for compulsory pu
Of chase In Baltimore, in this countr
NY the street car lines pay IL pc
80, csntum Of their gross revenues into Il
nal city treasury for The maintenance
hi public parks. Charters are limited
-er fifteen years and at the end Of III
The timo there is nothing to prevent 4
en-. city from ceiling them to the hight
if bidder. These are pointers
nse the future. The days when men q
ira TO make colossal fortunes out OF (
pro- property of the whole people witho
pro- givinga quid pro quo are passi
less away. The recent example in N,
sire York Of the sale to the highest bidd
me OF street privileges for electric and
itor bic railways is proof in point. Ph
lold legea must be paid for.